LEGGMASON INVESTORS EUROPEAN UTILITIES TRUST PLC

The net asset value per Ordinary Income share of LeggMason Investors European
Utilities Trust plc as at the close of business on 30 September 2003 was
87.73p.

The analysis of the net assets at 30 September 2003 by geographical area is as
follows:

Belgium                         3%
                                  
Finland                         4%
                                  
France                          3%
                                  
Germany                         7%
                                  
Greece                          8%
                                  
Hungary                         0%
                                  
Ireland                         0%
                                  
Italy                          16%
                                  
Norway                          0%
                                  
Portugal                       10%
                                  
Spain                          16%
                                  
Switzerland                     0%
                                  
United Kingdom                 24%
                                  
United Kingdom (bonds)          0%
                                  
Cash                            9%
                                  
                              100%
                                  

03.10.03



END